IRS Announces 2020 Standard Mileage Reimbursement Rates

Reading Time: < 1 minutes

Happy New Year!

On Jan 1st 2020, the IRS announced the Standard Mileage Reimbursement rate.

These rates are below:

Business: 57.5 cents per mile (down from 58 cents in 2019)
Charitable: 17 cents per mile (down from 20 cents in 2019)
Moving: 20 cents per mile (currently fixed by congress)

To read the original announcement from the IRS go here: https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2020

About Falcon Expenses

Falcon Expenses is a top-rated expense and mileage tracker app for self-employed and small businesses to track expenses and tax deductions. Falcon customers record $6,600, on average, in annual tax deductions. Get started today. The longer you wait, the more tax deductions you miss.

Automatically track mileage expenses and expenses, keep an odometer log, receipt vault and log billable hours. Quickly organize expenses by time period, project, or client. Easily create expense reports and mileage logs with your expense data for email to anyone in PDF or spreadsheet formats, all from your phone. Falcon’s expense report template is IRS compliant. Use for keeping track of tax deductions, reimbursements, taxes, record keeping, and more. Falcon Expenses is great for self-employed, freelancers, realtors, delivery drivers, couriers, business travelers, truckers, and more.

Check out the following articles to learn more:

Was this article helpful?

You may also like...

Leave a Reply

Your email address will not be published.

Free IRS compliant mileage log template in excel